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Direct Line Says Aviva's $4.16 Bln Takeover Approach Substantially Undervalues Company

By MarketWatch   |   1 year ago
Direct Line Says Aviva's $4.16 Bln Takeover Approach Substantially Undervalues Company

Aviva made a cash and share offer to Direct Line, but the British insurer rejected it, stating it undervalued the company. Aviva seeks to accelerate growth in the UK with a potential deal, while Direct Line declined the proposal. Aviva has until Christmas to decide on a formal offer.

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